Section 51: Power to borrow

51. Power to borrow The Commissioner responsible for the subject of finance may— (a) — (b) with the approval of the Regional Assembly, apply to the Minister of Finance for a warrant authorising disbursements from the provision for contingencies made pursuant to the Finance and Audit Act to enable the Regional Assembly to meet urgent and unforeseen expenditure in accordance with section 5 of the Finance and Audit Act; and (c) with the written permission of the Minister of Finance, borrow by way of term loans, such sums as may be approved by the Regional Assembly for the purposes of capital investment, provided that a copy of any agreement shall, as provided by section 3 (5) of the Public Debt Management Act 2008, be tabled both before the National Assembly and the Regional Assembly. [S. 51 amended by s. 22 (4) (a) of Act 4 of 2008 w.e.f. 1 July 2008; s. 14 (2) of Act 5 of 2008 w.e.f. 1 July 2008.] (S. 51 came into operation on 30 September 2002.) R30 – 23 [Issue 7] Rodrigues Regional Assembly Act